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Today in Markets

Jupiter's WEN Meme Coin Buzz

Are you eligible for WEN?
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Jan 26, 20242 min read

WEN? Now! Jupiter’s airdrop isn’t happening until next week, but many Solana ecosystem participants already have tokens to claim! Are you eligible to claim WEN?

Solana was trading at the low price of $38 when the JUP airdrop snapshot was taken on November 2, meaning that the wave of airdrop hunters who tuned into the Solana ecosystem after the Jito drop are not receiving JUP.

While Jupiter’s relatively early snapshot date precluded many of the newest arrivals to the Solana system from receiving an allocation, anyone who swapped more than $5 in volume through Jupiter in the six months prior to January 19 received 643,652 WEN! Users of Jupiter’s limit order, dollar cost average, and perps features, in addition to holders of many bluechip NFTs, the Ovols NFTs, and Genesis Saga NFTs, can also claim an allocation, bringing the number of eligible addresses to over 1M.

Jupiter’s WEN airdrop is intended to serve as a beta test for their launchpad, which will also serve as the claim platform for the upcoming JUP airdrop.

This launchpad allows eligible addresses to easily claim their token allocations, view the price it is trading at, provide liquidity to the token launch pool, and purchase more WEN (or swap their allocation for something else) from one convenient location and is the newest addition to Jupiter’s list of product offerings. 

Within an hour of WEN’s launch, 150k wallets had claimed their tokens, with the Solana network efficiently processing the load as native parallelization localized the claiming disruption, and priority fees functioned as expected, yet another encouraging stress test for the team. 

 

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

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